Labaton Sucharow LLP and Pomerantz LLP Announce Proposed Settlement in the JA Solar Securities Litigation

NEW YORK, May 2, 2023 /PRNewswire/ -- The following statement is being issued by Pomerantz LLP and Labaton Sucharow LLP regarding the JA Solar Securities Litigation:

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS
ACTION AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

To: All Persons who sold JA Solar Holdings Co., Ltd. ADS, ordinary shares and/or long position cash-settled equity swaps referencing JA Solar ADSs ("JA Solar Securities"), and were damaged thereby, during the period from November 20, 2017 through July 16, 2018 (the effective date of the Merger), inclusive, (the "Class Period") and/or all Persons whose JA Solar Securities were cancelled or tendered in exchange for the right to receive the Merger consideration ("Settlement Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Court-appointed Co-Lead Plaintiffs, on behalf of themselves and all members of the proposed Settlement Class, and JA Solar, Baofang Jin and Shaohua Jia (collectively, "Defendants"), have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $21 million (the "Settlement"). 

A hearing will be held before the Honorable Andrew L. Carter, Jr., remotely on July 13, 2023, at 11:00 a.m. (the "Settlement Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated January 23, 2023; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the "Net Settlement Fund") to Settlement Class Members; and (iv) approve Co-Lead Counsel's Fee and Expense Application. To join, please contact the Court at 1-888-363-4749 and enter 3768660 for the access code. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another written notice. Information about the hearing will be posted at www.JASolarSecuritiesSettlement.com. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a full Notice and Claim Form, you may obtain copies of these documents by visiting www.JASolarSecuritiesSettlement.com or by contacting the Claims Administrator at:

JA Solar Holdings Co., Ltd. Securities Settlement
c/o ­­­­­KCC Class Action Services
P.O. Box 301133
Los Angeles, CA 90030-1133
[email protected]
(833) 632-0286

Inquiries, other than requests for information about the status of a claim, may also be made to Co-Lead Counsel:

LABATON SUCHAROW LLP
Carol C. Villegas, Esq.
140 Broadway
New York, NY 10005
www.labaton.com
[email protected]
(888) 219-6877

POMERANTZ LLP
Jeremy A. Lieberman, Esq.
600 Third Avenue, 20th Floor 
New York, NY 10016
www.pomlaw.com
(212) 661-1100

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than July 8, 2023.  If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than June 22, 2023.  If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund. 

Any objections to the proposed Settlement, Co-Lead Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than June 22, 2023. 

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

Media Contact:
Pomerantz LLP, Jeremy A. Lieberman, Esq., (212) 661-1100 and Labaton Sucharow LLP, Janel C. Laughlin, (888) 219-6877

SOURCE Labaton Sucharow LLP and Pomerantz LLP